Factoring" occurs when a business sells some of its accounts receivable to another insitution so it can receive cash immediately instead of having to wait until the receivables can be collected. True or False
Factoring" occurs when a business sells some of its accounts receivable to another insitution so it can receive cash immediately instead of having to wait until the receivables can be collected. True or False
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter5: Income Statement: Reporting The Results Of Operating Activities
Section: Chapter Questions
Problem 6Q
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"Factoring" occurs when a business sells some of its accounts receivable to another insitution so it can receive cash immediately instead of having to wait until the receivables can be collected.
True or False
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